EUR/USD: While the pair gained bullish traction over an unexpected move by the US Federal Reserve, EURO’s gains were capped at the 1.1190 handle, given strong resistance near the 1.1200 handle. Further, a pick-up in USD’s momentum in early European session caused the pair to move in range bound pattern near mid-1.1160 handle adding pressure to EURO bulls. Traders now await US data and positive PMI’s would help USD gain strength dragging price back below mid-1.11 handle in North American session.
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